Shell plc (NYSE:SHEL) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in shares of Shell plc (NYSE:SHEL) by 27.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 567,552 shares of the energy company’s stock after purchasing an additional 123,487 shares during the quarter. Ameriprise Financial Inc.’s holdings in Shell were worth $35,552,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEL. Valley National Advisers Inc. increased its position in Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Shell in the fourth quarter valued at approximately $28,000. Human Investing LLC acquired a new stake in Shell in the fourth quarter valued at approximately $31,000. Transce3nd LLC acquired a new stake in Shell in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new stake in Shell in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

Shares of SHEL opened at $66.36 on Tuesday. The business’s fifty day moving average price is $66.75 and its 200 day moving average price is $65.84. Shell plc has a 12-month low of $58.55 and a 12-month high of $74.61. The stock has a market capitalization of $199.60 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The firm had revenue of $69.23 billion for the quarter, compared to analysts’ expectations of $79.18 billion. During the same period last year, the business posted $2.40 earnings per share. Equities research analysts forecast that Shell plc will post 7.67 EPS for the current year.

Shell announced that its Board of Directors has authorized a stock buyback program on Friday, May 2nd that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes the energy company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, May 16th will be given a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Friday, May 16th. Shell’s dividend payout ratio is presently 65.90%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SHEL shares. Wells Fargo & Company lowered their price objective on shares of Shell from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research report on Wednesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. TD Cowen reduced their target price on Shell from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Scotiabank reduced their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Shell presently has a consensus rating of “Buy” and a consensus price target of $77.35.

Shell Profile

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.